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Since the ICO boom in 2017, governments around the world began settling on different approaches to regulating the crypto industry. Many legislatures and regulators proactively drafted new laws, regulations, guidance and frameworks for the crypto industry. Others used investigatory authorities and enforcement actions to regulate the industry. We expect that governments around the world will remain active for the foreseeable future as cryptoassets become more mainstream.

Financial institutions offering crypto-related services are expected to assess, address, and mitigate the risks associated with these cryptoassets, which includes fulfilling their anti-money laundering and combatting the financing of terrorism (AML/CFT) obligations.

Our new publication, Crypto around the World, takes a look at cryptoasset regulations across various jurisdictions. The guide follows a questionnaire format, with twenty questions focused on:

  • Laws or provisions transposing the Fifth Money Laundering Directive (5MLD) with regard to crypto/virtual assets
  • Regulations on crypto/virtual asset providers and related professions
  • Protection for investors of crypto/virtual assets (e.g., consumer law, advertising, financial compensation scheme, and others)
  • Regulation of initial coin offerings (ICOs)
  • Relevant tax provisions
  • Relevant financial services regulatory/licensing regimes
  • Other important and specific rules and provisions

Author

Iris Barsan joined Baker McKenzie in October 2019 after practicing as a lawyer in a Franco-German law firm. Prior to that, Iris worked for several years in the legal department of the Prudential Control and Resolution Authority and as a financial lawyer in a French banking group (insurance and investment banking). Iris holds a doctorate in French and German law, an LL.M. from the University of Cologne and is a former student of the ENA (Willy Brandt promotion). In addition to her practice as a lawyer, Iris is an assistant professor at the University of Paris XII. She teaches company law (French, European and comparative), European business law, financial regulation and personal data and new technologies law.

Author

Christopher Murrer is an associate in the FinTech, International Tax and Wealth Management practice groups of Baker McKenzie Zurich. He joined the Firm after practicing for seven years as tax and wealth planning attorney in New York and Washington, DC.

Author

Julian Hui is an Associate in Baker McKenzie's London office.